In a significant strategic pivot, the renowned jewellery chain Pandora has unveiled plans to transition from using silver to platinum in the majority of its products. This major change comes as the company grapples with soaring costs of precious metals, aiming to maintain affordability for customers while enhancing durability.
A Response to Soaring Metal Prices
Pandora, famous for its iconic silver charm bracelets, rings, and necklaces, is set to implement this shift to combat the escalating prices of raw materials. The company will adopt a "platinum-plated" approach, where platinum is overlaid onto a more economical alloy. This method allows Pandora to offer jewellery with the premium appearance of platinum without the full cost burden, ensuring prices remain stable for consumers.
CEO Insights and Global Rollout Plans
Berta de Pablos-Barbier, CEO of Pandora, emphasised the innovation behind this move. She stated, "With this innovation, we can navigate the new realities of raw material costs while offering consumers precious metal jewellery that is exceptionally well-suited for everyday wear." The initial phase will see platinum-plated versions of best-selling bracelets introduced at 30 stores across Northern Europe in the first quarter of 2026, followed by a comprehensive global launch in the second half of the year.
This new platinum-plated process draws inspiration from Pandora's Evershine line of gold-plated products, which debuted in 2015. According to reports from the Financial Times, the brand aims to reduce its reliance on silver from approximately 60 per cent of its jewellery production to around 20 per cent by the end of 2028.
Moving Beyond the Silver Image
Ms de Pablos-Barbier highlighted the company's desire to evolve its brand identity, noting, "It’s highly frustrating when you are a highly desirable jewellery brand to be considered a silver trading company. This is something we want to move away from, to stop being so linked to one commodity." This shift not only addresses cost pressures but also aligns with a broader strategy to diversify Pandora's product offerings and market perception.
Benefits for Consumers
While this announcement may surprise loyal customers, it presents potential advantages. Platinum is known for its resistance to tarnishing and oxidation, unlike silver, which requires regular polishing. Consequently, jewellery such as bangles, bracelets, and rings from Pandora could offer enhanced longevity and reduced maintenance, providing better value over time.
This strategic overhaul reflects Pandora's commitment to innovation and adaptability in a challenging economic landscape, ensuring it remains a competitive player in the global jewellery market.
